If You Pay $1000 for a 90-Day Option on Property

question 82

Multiple Choice

If you pay $1000 for a 90-day option on property offered at $200 000,which of the following is true?

• A) You have bought a 90-day period of time within which you may or may not accept the offer of the land.
• B) With the signing of the option agreement, you have entered into two contracts-a contract for time and another for land.
• C) You have agreed that you will accept the offer of land within the 90-day period.
• D) If you do not exercise the option, you can get your $1000 back.
• E) The seller of the land can revoke the offer of the land any time before acceptance.

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Definitions:

Display Control Property

A property in graphical user interfaces that determines how an element is displayed on the screen.

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Text Box

A graphical user interface element where users can input text data in forms, documents, or any other interface that requires textual input.

Cognitive Restructuring

A psychological technique that involves identifying and challenging negative thought patterns to reshape cognitions in a more positive light.